These 5 Semiconductor Stocks Are Popular On Reddit

2. Advanced Micro Devices, Inc. (NASDAQ:AMD)

Number of Hedge Fund Holders: 83

Advanced Micro Devices, Inc. (NASDAQ:AMD) is an American semiconductor designer and seller that sells central processing units (CPUs), graphics processing units (GPUs), and custom processors. The company is headquartered in Santa Clara, California.

Advanced Micro Devices, Inc. (NASDAQ:AMD) is one of the strongest growing stocks in the semiconductor industry, as it has appreciated by close to 3,000% over the course of the last decade. Continuing its trend of consecutive revenue growth, the company hopes to further grow its revenue by 60% this year. Its revenue for the first quarter of this year had marked an even stronger growth of 71%.

BMO Capital raised Advanced Micro Devices, Inc. (NASDAQ:AMD)’s share price target to $115 from $100 in July 2022, as it outlined that not only is the company on track for sustained market share growth against Intel but that its enterprise computing segment is generating strong customer interest. Out of the 912 hedge funds tracked by Insider Monkey for Q1 2022, 83 had held a stake in Advanced Micro Devices, Inc. (NASDAQ:AMD).

Out of these, Ken Fisher’s Fisher Asset Management is Advanced Micro Devices, Inc. (NASDAQ:AMD)’s largest investor. It owns 24 million shares that are worth $2.6 billion.

Here is what Carillon Tower Advisers had to say about Advanced Micro Devices, Inc. (NASDAQ:AMD) in its Q4 2021 investor letter:

“Advanced Micro Devices (AMD) supplies semiconductor chips for central processing units (CPUs) and graphic processing units (GPUs). The firm has been gaining share against its primary competitor in the datacenter server CPU space, as this rival has been unable to match the design and manufacturing capabilities of AMD and its partners. Investors are also looking forward to the closing of the previously announced merger with a semiconductor manufacturer that is another one of the portfolio’s holdings. The merger will increase AMD’s capabilities in the Field Programmable Gate Array (FPGA) chip space, and the combined company should possess the potential to win additional market share in the datacenter chip market.”